Retailer creates a new position to take charge of debt-issue investing. Raymond James Ltd., the Canadian subsidiary of U.S holding company Raymond James Financial, has hired former Canadian Imperial Bank of Commerce (CIBC) executive Mario Addeo to take charge of fixed-income investing, a new position. He starts on Monday as a report to Terry Hetherington, head of Raymond James Ltd.'s private-client group.

Addeo will also take a seat on Raymond James Ltd.'s private-client group operating committee.

And good-bye

"Mario will play an integral role in providing strategic leadership to take our fixed income capabilities to a higher level," says Hetherington. "His focus will be to enhance our retail fixed-income program for the benefit of our clients and our financial advisors."

Addeo draws on 25 years of private-client and brokerage experience. He was head of retail fixed-income and private-client investing with CIBC's Capital Markets unit -- a position he came to from Merrill Lynch Canada, which Toronto-based CIBC acquired from New York-based Merrill Lynch (now part of Bank of America) in 2002. At Merrill Lynch Canada and its predessessor firm Midland Walwyn. He began his career at Dean Witter Canada (now part of Morgan Stanley).

"Mario has earned a solid reputation among financial advisors for his ability to support them with innovative investment products and value added ideas," says Hetherington. "We are confident he will deliver the same high quality results as a key partner in helping us achieve our strategic goals for building the firm in Canada."

Raymond James Ltd. has about 460 financial advisors in 100 branches across Canada.

St. Petersburg, Fla.-based Raymond James Financial has three broker-dealer subsidiaries: its full-service brokerage U.S. Raymond James & Associates, Raymond James Financial Services, a support platform for independent U.S. brokers, RIAs and other financial-service providers, and its Canadian arm Raymond James Ltd. The holding company also owns a U.K.-based private-client asset-management platform called Raymond James Investment Services. -FWR

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